The Association of Chartered Certified Accountants (ACCA) has announced that Azerbaijan has added its qualification into the country’s accountancy certification framework.
ACCA confirmed that its Certificate in International Public Sector Accounting Standards (IPSAS) has received formal approval in Azerbaijan, following revisions to the national rules governing the certification of professional accountants.
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The decision to incorporate ACCA’s IPSAS certificate into the state framework was described by the accountancy body as an “important milestone” for the development of the accountancy profession in the country.
It is intended to reinforce the professional knowledge, skills and capacity of public sector finance specialists.
Under Resolution No. 217 of the Cabinet of Ministers of the Republic of Azerbaijan, applicants who already hold ACCA’s Certificate in IPSAS and apply for a Level I or Level II professional accountant certificate in the public sector are excused from the first stage of the relevant examination.
ACCA Eurasia Public Affairs lead Gaukhar Ashirbekova said: “This amendment marks an important milestone in advancing the professional development of public sector finance professionals.
“It will help broaden access to internationally recognised learning and support the continued development of the knowledge and skills required for effective public financial management.
“We look forward to continuing our close cooperation with partners to support long-term professional development and further strengthen public sector finance capabilities in Azerbaijan.”
IPSAS have been designed to improve the quality, consistency and transparency of financial reporting across the public sector globally.
They are issued by the International Public Sector Accounting Standards Board and include both cash-basis and accrual-basis standards used in preparing general purpose financial statements by governments and other public sector organisations worldwide.
ACCA’s Certificate in IPSAS was developed to help finance professionals address the practical demands of implementing these standards.
